Onward (1)

What happens next. Part One.

Pandexit.
The pandemic will end in 2022, more than 24 months after it started. Omicron will prove to be massively, uncontrollably contagious but also morph Covid into an endemic seasonal flu (or something close to it). Vax rates will continue to rise – heading north of 90% for Canada (two or three doses), passing 70% in the US and 50% globally. Governments will give up publishing daily case counts. The health care system will finally get off its knees. The big question: will we learn from this and get ready for the next one? Nah.

The big reset:
RBC figures GDP growth in Canada will top 4% in 2022. That’s about what we did this year, and compares with a negative 5% in 2020. Unemployment has dropped from 14% during the first two waves to 6% now (the fifth wave) and will continue to fall, since there are more job openings than people willing to work. So, add wage inflation to price inflation. This is a huge story next year.

Biden on the ropes.
It looks reasonable the US president’s political party will be sliced & diced in the mid-term elections next autumn. Biden’s popularity crashed following the messy, tragic exit from Afghanistan and the military deaths at the airport. He is wearing the shame of a war that spanned four presidencies. Plus the Democrats’ wokism has gone beyond what mainstream American can choke down. What it means: huge spending bills backed by significant new taxes are DOA. Trump may come back in 2024, unless he’s in jail.

Fresh highs. Lots of them.
The S&P gained almost 30% in 2021, which was astonishing. But Mr. Market decided a year ago Covid was so-2020, could not change much permanently, and recovery was a cinch. In fact, we heard all year about the ‘Roaring Twenties’ and now on track to witness it. Sure, volatility will happen and (hopefully) we’ll have at least one correction of 10% or more during the year. But there’s no crash in sight, because there’s no catalyst for one. Even if Russia invades Ukraine and China breaks every climate changer’s heart (both of which are likely).

Bye-bye stimulus.
An entire generation of borrowers and homebuyers has not seen steadily rising interest rates in their lifetime. So people don’t believe it. Can’t happen. But they haven’t lived through systemic inflation, either. That means 2022 will be a year of incredulity for millions as they watch a tightening cycle begin which will last at least a couple of years and double the cost of money. Tune in tomorrow for guidance on what this does to the housing market.

Chrystia blinks.
It’s looking a lot less likely our non-financial Finance Minister will have the stomach to raise taxes in order to offset an historic dollop of federal spending. As you know, we’ve been yakking for some time about a hike in the capital gains inclusion rate, a new uber tax bracket and other revenue-generating measures, including a hit on corps. More taxes are needed since the torrent of spending in Ottawa just won’t stop and our debt has doubled during the tenure of a single prime minister. But, don’t count on it this Spring. Thank Omicron. While the slimy variant may herald the beginning of the end of Covid, its infectious presence vexes the lady in red.

Tomorrow: the year that will eat Millennials.

About the picture: “Good health and lots of free time to enjoy special moments to you, Garth,” write Peter and Kathy. “We hope you are enjoying your new pooch and still think about Bandit often, and look at pictures on old blog posts … what a beautiful creature. Here is little Baylie. Thanks for the daily reality check and common sense advice to all. Also for the weekly Podcast.”

128 comments ↓

#1 Dolce Vita on 12.30.21 at 2:50 pm

THAT was short and sweet Garth. Can’t wait for Mills getting eaten tomorrow.

—————–

Speaking about TOMORROW a friendly reminder by Ngugi on Imgur:

“Now is the time to bring an offer to the Old Gods, if there’s something you must recompense for or desire. Some of you forgot this both last New Years and it really shows.”

https://imgur.com/gallery/HFCvc0Y [original]
https://i.imgur.com/JpKnmfj.mp4 [if you can’t get to it]

Going to my cousin Bepi’s farm tomorrow to make good on Ngugi’s suggestion. Anything to smite Omicron and make Mr. Market go way, way up in 2022.

——————

PS and the Old Gods:

Nordic Tesla Noir…Vexation in Valhøll:

https://news.sky.com/video/finland-man-blows-up-tesla-with-30kg-of-dynamite-after-getting-16-000-repair-bill-12503301

Probably not the last Tesla owner that will be doing that soon enough:

https://electrek.co/2021/12/30/tesla-tsla-issues-recalls-half-million-model-3-model-s-vehicles/

Many other websites about this, I picked that one ’cause I liked the name…a very good segue to all is NOT WELL in:

https://www.youtube.com/watch?v=vtPk5IUbdH0

#2 john on 12.30.21 at 2:52 pm

You may want to stop forecasting the end of Covid. Seems like you were wrong about the last four waves. Doesn’t look like Covid is like the other viruses we’re used to, and it doesn’t matter if we’re 100% vaxxed, the rest of the planet is not. Happy New Year!

#3 HUNGRY BEAR on 12.30.21 at 2:55 pm

2021 is the calm before the storm.

2022 is going to be the year like no other. Don’t believe me check-out Nostradums’ 2022 predictions.

https://www.google.com/amp/s/www.dailyo.in/lite/variety/nostradamus-predictions-for-2022/story/1/35067.html

HAPPY NEW YEARS!!!!!

#4 yvr_lurker on 12.30.21 at 3:03 pm

The pandemic will end in 2022, more than 24 months after it started. Omicron will prove to be massively, uncontrollably contagious but also morph Covid into an endemic seasonal flu (or something close to it).
———-

This is indeed what some experts are hoping for. However, unless every strongly interconnected node in our global network is highly vaxed, we risk the scenario of a new more dangerous variant emerging from the shadows. We should all be thankful that it is looking like omicron is not as virulent as Delta, since with how rapidly it has spread we would have been toast otherwise.

#5 Shawn on 12.30.21 at 3:04 pm

Borrowing to do an RRSP meltdown?

This does not work either.

When you borrow money to invest at a loss to offset an RSP withdrawal, that really has nothing to do with the RSP. You still made the RSP income and it’s taxable. But you then created a loss as a side project. That really has nothing to do with the RSP except in some people’s minds.

There are few strategies to invest at a loss such as getting return of capital money which is not taxable, since it represents a loss. Maybe I am too risk adverse but the whole notion of borrowing money to invest at any kind of loss (paper or real) strikes me as crazy and a great way to add stress.

The idea that an RSP should be melted down is simply silly. Grow the RSP as much as you can it and pay the taxes when it is withdrawn. Learn the math, your RSP was in pre-taxed money, it should always have been valued on your balance sheet at 65% or something like that.

#6 Not Fooled on 12.30.21 at 3:04 pm

#89 crowdedelevatorfartz on 12.30.21 at 11:08 am
TONS of snow in Burnaby this am.
Light, fluffy, easy to shovel….snow.

Amusing commute this am.
A dorkus malorkus went zipping past me in a VW station wagon ( yes I had to do a double check … a VW station wagon) and not 3 minutes later I passed him…. in the ditch.

The Lower Brainland never ceases to amaze and stupefy.

***********

Surrey takes the title for dangerously stupid driving behavior.

Several years ago whilst responding to an emergency, a red, 69′ Mustang hopped on our bumper and proceeded to draft our emergency vehicle down KG Hwy, through red lights, racing us in the right lane, all kinds of dangerous behavior.

My partner, who was driving, kept telling me to throw our fire extinguisher through his windshield. I came close to doing it.

We finally lost him, and proceeded to our destination.

4-5 hours later, the last call of the shift came in for an MVA. Off we went. Arrived to a darkened crash site, powerlines were down so no streetlighting. We cautiously approached to find (you guessed it) one half of a red 69′ Mustang at the base of snapped off, concrete power pole. Point of impact was the driver side door.

The engine compartment separated at the firewall and continued down the block, hitting and disabling the next pole. The driver, same dude as earlier, was alone thankfully. His head had hit the power pole. The absent front half of the car and no seat belt meant he was subsequently ejected from the remains of the passenger compartment.

Nothing for us to do but point and laugh.

#7 Dean on 12.30.21 at 3:05 pm

https://youtu.be/n_fe3tgYSA0
Nixon price controls 1971. Trudeau or Biden turn?

#8 TurnerNation on 12.30.21 at 3:07 pm

War on Small Business. No fun allowed in the New System! Once you realize that to our rulers we are the thing to be contained, stamped out, this all makes sense.

https://www.blogto.com/eat_drink/2021/12/ontario-warns-bars-not-stay-open-new-years-eve/
“The new lockdown rules enacted across Ontario earlier this month have posed yet another huge blow to businesses that were already struggling to recover from lengthy forced closures and stringent COVID-19 protocols, and also to customers who were finally getting used to a return to a somewhat normal way of life.”


–Voluntary. But the hospital capacity guys?

.Manitoba receiving $8.4M for voluntary COVID-19 isolation sites (ctvnews.ca)

— I’d posted that people discovered the EU Green Pass has, in its source code eight slots. And it was called a Consp. Theory.

.Newsweek @Newsweek The Netherlands may be moving towards administering three more booster COVID-19 vaccines, two of which would be in 2022.


— Control over travel/movements. Always.

.CDC Says Avoid Cruise Travel Regardless of Vaccination Status (bloomberg.com)

— The the thing is, with unlimited power, you must always be flexing it. Playing with the dates. Just ’cause. What you gonna do about that peasant?

. ON: Back to school announcement expected as Doug Ford meets with cabinet, return to school on January 5th instead of January 3rd (toronto.citynews.ca)

#9 Habitt on 12.30.21 at 3:10 pm

If it ain’t Trump in 2024 he’ll run the election from wherever he is. As for Covid crashing we will see.

#10 Nonplused on 12.30.21 at 3:18 pm

“Trump may come back in 2024, unless he’s in jail.”

I wouldn’t count on either. He’ll probably have an influence on the 2022 midterms, but once the republicans have the house, which seems likely, they will move on without Trump. Some excellent alternatives are arising, like DeSantis.

As for jail, they’ll have to come up with a charge first. Everything they tried so far turned out to be a hoax.

Back here in Canada, our non-finance finance minister can try all she likes to raise taxes but it won’t produce any more revenue. It can’t. We are at peak tax. Any attempt to increase taxes at this point will result in reduced economic activity. At this point the tax discussions rightly belong in the area of “equity politics”, they have nothing to do with finance.

If it were as easy as just raising tax rates and coming up with some new categories, well McDonald’s could learn a thing or two from Freeland and just double the price of a Big Mac. Profits would soar! But it just doesn’t work that way. They’d be more likely to go out of business.

Besides, there is the problem of scale. At this point even massive tax increases can’t do anything more than pay the interest on the new debt, and maybe not even that much. Balancing the budget on new taxes assumes there is a lot more money to be made taxing $100,000 cars than there is. The money simply isn’t there. The billionaires don’t have it. The scale is all wrong. We are at the point where taking all the wealth all the billionaires in Canada have all at once won’t cover a Trudeau deficit for 6 months. There is no solution to these problems to be found in taxation. We are well beyond that point.

So how to predict the future? It saves time to avoid thinking about so-called solutions that cannot possibly work. So let’s not spend a whole lot of time talking taxes because no matter what they do it will be in vain and things that can actually happen will continue to happen unimpeded. So what things can actually happen? Hyperinflation? Possibly but unlikely. More likely is a Mulroney style financial crisis and austerity. Pretty much everything Trudeau 2.0 has done will have to be undone by the invisible hand, and it will be. The only other solution is to accept disaster and dystopia. That’s not likely. We’ve elected a Mulroney and a Harper before. We will again. Came close last time.

#11 Carlos El Magnifico on 12.30.21 at 3:19 pm

Does ‘Roaring Twenties’ imply a decade of big growth or more like a few years post-Covid?

#12 Dolce Vita on 12.30.21 at 3:24 pm

“The pandemic will end in 2022”

Same England story. Mucho cases. Few hospital and morgue participants:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1044331/20211230_OS__Omicron_Daily_Overview.pdf

Italia finally puts the boots to the No-Vax, as told by the envious Swiss (“2G” is some Teutonic thing, not Italian):

https://www.20min.ch/story/in-italien-duerfen-nur-noch-geimpfte-und-genesene-einen-zug-besteigen-251205081749

Mentality of No-Vax in Italia…Italian pathos:

“No Vax refuses to be intubated: “I will heal anyway”. He died at 48, had 3 children”

https://www.fanpage.it/attualita/no-vax-rifiuta-di-essere-intubato-tanto-guarisco-lo-stesso-muore-a-48-anni-aveva-3-figli/

Similar story from the US today, somewhere in the Twitter Hive.

RIP. RIP.

Twitter Hive hunting for MIA Florida Gov Ron DeSantis:

https://twitter.com/tomaskenn/status/1476359260388741122

Even I feel sorry for him. The HIVE is merciless.

#13 Leichendiener on 12.30.21 at 3:27 pm

For those of us who read books get a hold of ‘Gossip Men’.
It provides deep insight into the 45th President and maybe the 47th (not wonderful).

Biden saying ‘Let’s go Brandon’ is not amusing.

#14 Shawn on 12.30.21 at 3:27 pm

RSP

And I am not saying keep contributing to an RSP no matter what. TFSA may be a better option for some. Especially those planning to live on GIS and old age pogey.

But once you have money inside an RSP there are few to no times when it should be removed except in retirement or if you really need the money earlier such as on job loss. In general, treat money as untouchable-until-retirement once it is safely ensconced inside an RSP. Then: grow-baby-grow.

#15 mj on 12.30.21 at 3:30 pm

I would love to see a roaring twenties, but I can’t vision it. too many things could happen next year. You mentioned a few things. Russia and Ukraine tension . Also don’t forget about China and Taiwan tension. Both Russia and China agreed a couple weeks ago to support each other military.

second. I will put real estate, raising interest rates, and inflation all in one basket. When interest rates rise, it most likely will reduce the price of homes. With everything getting more expensive with inflation, people will have less to spend, and feel less rich.

if they keep putting restrictions on businesses, it will keep hurting our economy. The longer they do, the longer it will hurt everyone.

Because anything can happen next year, it’s hard to see next year will be a good year

#16 ogdoad on 12.30.21 at 3:32 pm

The year that will eat Mills? Great. That’s all we need. Now they’ll complain about being eaten – whoa is me!!! And probably blame boomers. Then get more money from T2.

Og

#17 Paddy on 12.30.21 at 3:33 pm

No weekly call this week Garth?? I need to hear the soothing voices of you, Doug and Ryan.

Give us a break! – Garth

#18 crowdedelevatorfartz on 12.30.21 at 3:33 pm

No daily Trump blithers have made most of the past 18 months of Covid foolishness somewhat bearable.

Will Twitter and Facebook still ban the idiot if he’s re-elected President?
Dog help us all.

#19 crowdedelevatorfartz on 12.30.21 at 3:37 pm

@#97 Sail Away
“I’m game. Now to find three sober and accomplished references.

Maybe crowdedelevatorfartz, I’m Stupid, and Shaquille Oatmeal?”

+++

If I have to stand and allow the PM of Debt to place the Order of Canada around my neck…..

I’d rather start drinking again.

#20 the Jaguar on 12.30.21 at 3:38 pm

Biden on the ropes? More like dead man walking from the day he took office. His presidency has been a nothing burger. The ‘exit’ debacle didn’t help, but it doesn’t take a genius to see he hasn’t been ‘running the show’ from the git go.

Too many woke elephants in the room. It’s getting awfully crowded. But Mr. Market’s doppelganger is a guy called ‘Mr. Reality’, and he’s about to be elected the new Sheriff in town. The layabouts are in for a wake up call. What’s entirely predictable is that they don’t see it coming. Those rose coloured glasses have a way of obscuring the landscape. I don’t see a second act from Trump. But his base hasn’t gone away. Just been hiding out in the tall grass with all the problems and challenges that face America. It’s the same mini series being played out here in Canada with a slightly different cast of characters. Oh me oh my.

Baylie’s a cute little dustmop.

#21 The Woosh on 12.30.21 at 3:41 pm

Chrystia blinks.
It’s looking a lot less likely our non-financial Finance Minister will have the stomach to raise taxes in order to offset an historic dollop of federal spending.

——————————————

I don’t think raising taxes were ever on her radar nor will it be while inflation goes bonkers. Why bother when the Treasury raked in billions due to the rise in inflation. If that hadn’t worked out so well, the BoC would have already raised rates. Inflation sucks for individuals and business but works out beautifully for the government coffers.

#22 Steve French on 12.30.21 at 3:43 pm

The GF comments section should be stored in the national archives!

I say keep up the blog and also the comments section…

In memory of the Late Great Smoking Man.

SteveO.

#23 Doug t on 12.30.21 at 3:56 pm

I hear Millennials taste kinda like road kill

#24 truefacts on 12.30.21 at 4:02 pm

Covid cases dropped 40% in South Africa – cases should be falling in the not-to-distant future in Canada as Omicron burns itself out…

https://timesofindia.indiatimes.com/world/rest-of-world/covid-cases-in-south-africa-drop-by-nearly-40-in-a-week/articleshow/88569726.cms

#25 Shawn on 12.30.21 at 4:18 pm

Roaring twenties?

#15 mj on 12.30.21 at 3:30 pm

I would love to see a roaring twenties, but I can’t vision it.

**********************

We just finished 13 years of incredibly roaring asset markets. And some are predicting it to continue. Hope you benefited.

#26 Cici on 12.30.21 at 4:23 pm

#1 Dolce Vita on 12.30.21 at 2:50 pm

Hahahahaha… loved Eddy Grant and love that song too ;-)

#27 Dogman01 on 12.30.21 at 4:30 pm

How an obsession with home ownership can ruin the economy | The Economist
https://youtu.be/kkVEt5tC2xU

Pretty accurate description of the dynamic.

The one plus of Home Ownership I did not consider is that by owing one’s home in retirement you do not need as much income per month and may be able to keep your Taxes (which is my greatest single expense) lower by drawing on less of an income.

#28 Big Bucks on 12.30.21 at 4:38 pm

Buy on the rumour ,sell on the news.

Rumour is the economy will somehow do pretty good(great even) but the reality will hit like a Tsunami and markets will crash.Too much debt,rising inflation and interest rates will spook those that have seen the Dow go from 7000 to 36,000 in just over a decade.The roaring 20’s?We just had a roaring decade in stocks and housing—it only craters from here.

#29 Bob in Hamilton on 12.30.21 at 4:38 pm

“Tomorrow: the year that will eat Millennials.”

..I’ll bring the popcorn and get a good front row seat.

#30 Reality Check on 12.30.21 at 4:46 pm

10 Nonplused

He’ll (Trum) probably have an influence on the 2022 midterms, but once the republicans have the house, which seems likely, they will move on without Trump. Some excellent alternatives are arising.
_————-

As long as Trump controls 10-20% of the wacky voters of the Republican Party he controls the party. The Republicans need Trump supporters to win and Trump, having zero loyalty to Republicans, will walk along with most of his supporters if Republicans do not follow his directions.

The control he exerts over the Republican Party is based on his absolute willingness to crater the party if he does not get his way.

So I expect if Trump is still health enough he will run in 2024 or lacking that will control the Republican presidency run.

#31 Prince Polo on 12.30.21 at 4:48 pm

“That means 2022 will be a year of incredulity for millions”

Philip Rivers, the king of incredulosity, will love it!

“Tomorrow: the year that will eat Millennials.”

2022 ain’t eating this loser rentin’ Millennial! Bring. It. On!

#32 Ponzius Pilatus on 12.30.21 at 4:48 pm

#104 Sail Away on 12.30.21 at 2:51 pm
#103 Shawn on 12.30.21 at 2:03 pm

Re: RRSP and DB pension distribution taxation

Actually, Shawn, the best way to go about it is probably to become a US tax resident at retirement and offset US taxes with tax credits from the Canadian stuff. Scrumptious.
————–
Actually, just put your retirement money in a nice B/D portfolio.
And relax and go for a nice walk in the snow with your dog.
Life is easy, if you let it be.

#33 Ponzius Pilatus on 12.30.21 at 4:52 pm

#25 Shawn on 12.30.21 at 4:18 pm
Roaring twenties?

#15 mj on 12.30.21 at 3:30 pm

I would love to see a roaring twenties, but I can’t vision it.

**********************

We just finished 13 years of incredibly roaring asset markets. And some are predicting it to continue. Hope you benefited.
————
Roaring Twenties?
Watch Babylon Berlin.

#34 Linda on 12.30.21 at 4:54 pm

Baylie is such a cutie!

The ‘Roaring 20’s’. As per the history books, the period of time preceding the market crash of 1929 was called that. So what I’m wondering is, will history repeat itself? Are there distinct parallels between the first R20 & what we are experiencing today? Seems like at least some similarities, including the masses ‘investing’ in ‘a sure thing’.

You are worried about eight years from now? – Garth

#35 We turned our RRSP into RRIF at 56 and retired early on 12.30.21 at 4:55 pm

The best thing my spouse and I did is retire just last month, both at 56 and turned our RRSP’s it into a RRIF. We saved aggressively in our RRSP’s for 32 years, we both have similar amounts, I started with $520,000 and she started with $455,000. I take out a straight $32,000 a year for me and she takes $28,000 a year for next 24 years, until we are 80 in which this will outpace the minimum RRIF required withdrawals each year. This works well because of our declining RRIF balances and the higher required percentage withdrawal by the government is always less than the $32,000 I withdraw and $28,000 she withdrawals from our own RRIF. By our 80th birthdays are RRIF’s will be depleted to $0 balance.

We do have all our TFSA’s maxed out since 2009 worth $91,000 and this RRIF money coming in each year allows us to retire well and top up our TFSA’s for many more years. We also have a non-registered GIC, dividend paying bank stocks portfolio which brings in another $19,000 a year. We are completely debt free, no mortgage debt and after all our taxes, bills, living costs still have $47,000 a year that we will have to reinvest in some other investments. We will be getting our CPP early that will be another $16,000 a year in 2025 and our OAS will be another $18,000 a year in 2030.

Bad idea. – Garth

#36 Cici on 12.30.21 at 4:56 pm

#10 Nonplused

“If it were as easy as just raising tax rates and coming up with some new categories, well McDonald’s could learn a thing or two from Freeland and just double the price of a Big Mac. Profits would soar! But it just doesn’t work that way. They’d be more likely to go out of business.”
_____________________________________________

Actually it kinda does work that way… except instead of increasing the price of the burger twofold, they make it twice as small. A Big Mac is now the size of a cheeseburger circa 1980. And don’t get me started on the McChicken sandwich. I could eat two combos now and still be hungry afterwards.

I only go there for my son now. He’s an addict. And I try to score coupons when I do. Can’t wait ’til he outgrows the habit.

#37 IHCTD9 on 12.30.21 at 4:59 pm

Post Trudeau Canada is a place where the Libs deserve to rule for another decade or two. I’m 90% sure I’m voting Lib come the next election, because no other party deserves to deal with the fallout. Why not? There’s no fixing it, Trudeau sure ain’t interested. No revenues, no new taxes, a Trillion in debt – but let’s commit to Billions more in spending. Let him bury us, at least we’ll know who drove the nails into our coffin.

As of last spring our gross combined all levels of government debt was 2.8 Trillion. I’m going to go out on a sturdy limb and say by the time Trudeau is done in 2023, we’ll be doing the back-stroke in 3.5 Trillion in debt, or over 184 Grand for everyone who has a job in Canada.

It’s just not fixable. Annual debt servicing costs of 50 Billion per year? Yep, I think so in about 5 years.

#38 JSquared on 12.30.21 at 5:07 pm

It’s looking a lot less likely our non-financial Finance Minister will have the stomach to raise taxes in order to offset an historic dollop of federal spending.
___________________________________________

Serious question…can someone explain to me why homeowners don’t have to pay tax on gains when they sell? I get that it was / is probably an incentive by the gov’t to get people to become homeowners. The insane (tax free) profits some folks have made who bought 20-25yrs though seems to indicate this really doesn’t seem to make sense anymore. Am I missing something here?!?

#39 NOSTRADAMUS on 12.30.21 at 5:19 pm

A REAL PARTY POOPER.
With 2022 just over the hill, I’ll be seeing, zombies, the financially dead people, everywhere. The real estate and stock boys are going to have to pull a Houdini to escape the tightening “Jaws Of Death,” as liquidity dries up. For far too many years the speculators have been on one sugar high after another. All the while ignoring the risks of a sugar withdrawal, meaning liquidity, easy money. Behind the closed doors of their castles, I suspect there will be, “Cold Turkey Night Sweats and a whole lot of Hippy-Hippy Shakes going on. The drug dealers (Bankers) will not be returning their calls for more dope (money). Before long they can expect a date with Lady “B” bankruptcy. History, supports the fact that the withdrawal of liquidity trumps rising interest rates any day. This withdrawal, threatens to provide us with a spot of “Interesting Times,” Sorry, this strongly suggests to me, that for the overindebted , this could turn into a real party pooper. Put your dollar store party hats away for another day.
100 years ago we had the roaring twenties. with the withdrawal of liquidity the music stopped. Sleep tight my little beauties.

#40 Ponzius Pilatus on 12.30.21 at 5:29 pm

#12 Dolce Vita on 12.30.21 at 3:24 pm
“The pandemic will end in 2022”

Same England story. Mucho cases. Few hospital and morgue participants:
————–
Hey, Dolce.
You getting the languages mixed up.
“Mucho cases”?

#41 Old gringo on 12.30.21 at 5:36 pm

Happy New Year to all you bloggers!
Curious, just how one cooks a “ millennial “.
I’m thinking deep fried with tons of butter and garlic or air fryer for the vegans.

That was probably a hate crime. – Garth

#42 Ponzius Pilatus on 12.30.21 at 5:43 pm

#36 Cici on 12.30.21 at 4:56 pm
#10 Nonplused

“If it were as easy as just raising tax rates and coming up with some new categories, well McDonald’s could learn a thing or two from Freeland and just double the price of a Big Mac. Profits would soar! But it just doesn’t work that way. They’d be more likely to go out of business.”
_____________________________________________

Actually it kinda does work that way… except instead of increasing the price of the burger twofold, they make it twice as small. A Big Mac is now the size of a cheeseburger circa 1980. And don’t get me started on the McChicken sandwich. I could eat two combos now and still be hungry afterwards.

I only go there for my son now. He’s an addict. And I try to score coupons when I do. Can’t wait ’til he outgrows the habit.
—————
Just had the “toonie special” at KFC this Tuesday.
Used to be 2 bucks, now it’s 3.49.
Und the chicken pieces are getting smaller and smaller.
Still good deal though, but I only indulge in moderation.

#43 Dolce Vita on 12.30.21 at 5:50 pm

BREAKING NEWS

…for WhatsApp users (the Twitter Hive will be envious esp. of J’Accuse!).

New emojis.

Pregnant man, bite your lip and melting face:

https://i.imgur.com/27XZHSs.png

J’Accuse! and you can now do heart hands just like your fave Bill C-16 jock does:

https://i.imgur.com/yZKdt1d.png

Jawohl, mein Führer or in Spanish “Yo no soy marinero, soy capitan”:

https://i.imgur.com/26wWyjq.png

NOT.A.CLUE on these 2:

https://i.imgur.com/lJwQrGE.png [Confused Faces’ buddy?]
https://i.imgur.com/tK8DxrF.png [Frank Sinatra?]

If you want it all explained in Deutsche, be my guest:

https://www.stern.de/digital/online/neue-emojis-2022–was-facebook–twitter-und-whatsapp-nun-zeigen-31463446.html?utm_campaign=stern_fanpage&utm_medium=posting&utm_source=twitter&t.co=

————–

2022 is going to be WEIRD Garth.

#44 Yukon Elvis on 12.30.21 at 5:57 pm

#3 HUNGRY BEAR on 12.30.21 at 2:55 pm

2021 is the calm before the storm.
2022 is going to be the year like no other. Don’t believe me check-out Nostradums’ 2022 predictions.

https://www.google.com/amp/s/www.dailyo.in/lite/variety/nostradamus-predictions-for-2022/story/1/35067.html
HAPPY NEW YEARS!!!!!
+++++++++++++++++++
Good drugs were hard to find back in the olden days.

#45 mike from mtl on 12.30.21 at 5:59 pm

Garth apparently dear leader Lego does not agree 2022 is more of the same.

As predicted we’re back to exactly where we were last year, full lockdown plus that idiotic curfew… only lasted till summertime May no big deal.

This is more restrictive than anywhere in the free world, must be something in the water.

#46 Dolce Vita on 12.30.21 at 6:04 pm

#40 Ponzius Pilatus

Yes.

Between reading a couple of Spanish dailies, 1 Portuguese, 2 French and 4 or more Italian dailies every morning…you’d get Romance language mixed up, confused too.

Thank God for BBC and Nordic Noir Poltiken & Aftonbladet (the latter 2 with all their weird umlauts, my personal fave: ø̄ *) – breaks things up a bit.

2nd fave:

ēo

Everytime I see that, I think of:

https://www.youtube.com/watch?v=AQXVHITd1N4

#47 Sail Away on 12.30.21 at 6:06 pm

#42 Ponzius Pilatus on 12.30.21 at 5:43 pm

Just had the “toonie special” at KFC this Tuesday.
Used to be 2 bucks, now it’s 3.49.
Und the chicken pieces are getting smaller and smaller.
Still good deal though, but I only indulge in moderation.

——–

Good work, Thrifty. That’s some serious moderation for a family of four.

#48 willworkforpickles on 12.30.21 at 6:15 pm

Speaking in regard of Millennials and what may or may not be said of them in this blog tomorrow, one thing that deserves some focus is on their unquestionable faith and trust in MMT.
There are justifications that a number of economists out there have made for MMT being the new norm.
The kind this younger generation now wants and accepts whole heartily.
An aberration that disregards all caution for endless new debt creation in keeping the country going indefinitely as if there be nary a consequence to ever worry about going forward from here on.
But there will be consequences for North America ultimately being misled down this path.
Devastating consequences!
The very end of sovereignty itself north and south of the border….but the end of the US dollar beforehand few believe now can happen.
I’ll spare the details for now…
Empires long past have devolved from previous forms of MMT nonetheless and will again.

#49 Russ on 12.30.21 at 6:31 pm

Doug t on 12.30.21 at 3:56 pm

I hear Millennials taste kinda like road kill

=======================

Here’s the resource for that:
https://www.barnesandnoble.com/w/original-roadkill-cookbook-b-r-peterson/1002210764

This book is an item currently enjoyed in our bathroom library.

Cheers, R

#50 I don’t know on 12.30.21 at 6:36 pm

2022:

-Slightly higher interest rates
-Higher stocks
-Higher housing
-Lower inflation

#51 twofatcats on 12.30.21 at 6:41 pm

Dec 30 Today’s flipped ‘Principal Residences’

https://housesigma.com/web/en/house/AKv53DDpOPr3MnxB/6003-ERNEST-CRESCENT-Crescent-E-Niagara-Falls-40113107
https://www.zolo.ca/niagara-falls-real-estate/6003-ernest-crescent#sold-history

https://www.zolo.ca/st-catharines-real-estate/174-martindale-street/4#sold-history
https://housesigma.com/web/en/house/0MWBVyZxpl23Kemj/174-Martindale-Rd-4-St-Catharines-X4744977-30802440

https://housesigma.com/web/en/house/9w8o3m585Jj3GKjm/62-BELVEDERE-Road-Crystal-Beach-40149436
https://www.zolo.ca/fort-erie-real-estate/62-belvedere-road#sold-history

#52 I'm Alright Jack on 12.30.21 at 6:57 pm

Eating the millennials – cool. Can’t wait.

I think I’ll start with their livers with some fava beans and a nice chianti.

#53 TurnerNation on 12.30.21 at 7:35 pm

Want to become your own REIT? Cap rate? $422,000 per door ouch.

https://www.realtor.ca/real-estate/23778286/677-college-st-toronto-trinity-bellwoods
$13,500,000
Multi-Residential Apartment Building With 32 Bachelor Suites. Five Units Currently Vacant. Excellent Location Surrounded By Tons Of Retail Shopping, Dining & Eatery Options, And Convenient Access To T.T.C. Streetcar. Close To Vibrant And Diverse Kensington And Little Italy. Great Potential!**** EXTRAS **** As-Is, Where-Is Condition. One Metre For Hydro (Landlord Pays). Appx. $228,660.00 Gross Rent (Without The 5 Vacant Apartments)


— Control over travel/Life in Kanada. Lololol. They just fired hundreds of staffers. Kapitalism I guess.

.(CBC) “WestJet Airlines is dealing with so many employees out sick with the Omicron variant that it is being forced to cut 15 per cent of its scheduled flights through to the end of January

— What part about permanent rolling lockdowns is not obvious by now? Kanada has been slated for destruction.
All the old culture must go Comrades. Tear it down. 2022 science in action here.

.Toronto Star – Capacity at Scotiabank Arena to be reduced to 1,000 fans for Leafs, Raptors games


— Antman got another conspiracy for you.
Comrade you have broken curfew. Papers please are they in order? NYE is cancelled, all the old culture must go. So…when is the UBI coming?

“The Quebec government will reintroduce a curfew of 10 p.m. starting Dec. 31, Premier Legault announced Thursday evening.
Starting tomorrow at 5 p.m., all restaurant dining rooms in the province will close until further notice. However, take-out orders will still be allowed.

#54 Nonplused on 12.30.21 at 8:35 pm

Well, here we go again….

https://calgary.citynews.ca/2021/12/30/alberta-school-delay-return-covid/

————————————-

#36 Cici on 12.30.21 at 4:56 pm

“Actually it kinda does work that way… except instead of increasing the price of the burger twofold, they make it twice as small. A Big Mac is now the size of a cheeseburger circa 1980. And don’t get me started on the McChicken sandwich. I could eat two combos now and still be hungry afterwards.”

Are you saying the Quarter Pounder is now only 1/8 of a pound? Or that it used to be 1/2 a pound?

As for the Big Mac, I don’t remember it ever being more than a bunch of shredded lettuce and 1000 Island dressing between 3 buns.

You can eat two combos and still be hungry? Like, at one sitting? Or is that lunch and supper?

McChicken: 400 cals.
Medium Fries: 320 cals.
Medium Coke: 210 cals.

Total: 930 calories. Given that practically nobody should be eating more than 3,000 calories a day, and women not more than 2,000, that’s a pretty big chunk. 2 combos would be 1,860 calories. Nobody should be eating that in one sitting.

#55 Drinking on 12.30.21 at 8:57 pm

Ever hire a mill to shovel your walkways?? Need I say more??

#56 crowdedelevatorfartz on 12.30.21 at 9:17 pm

BC 6pm News

Omicron infections skyrocket ! …..4400 new cases.
Hospitalizations up…… 5
Intensive Care unit patients…… N/C (no change)

Deaths….. 1

I dubbed this Omi-yawn 4 weeks ago.
High infection rates + low hospitalizations or deaths.
Just another flu season.

South Africa is seeing a huge drop.

The worst is over.

Everyone …..Back to work ( unless you’re a unionized teacher in BC).

#57 AntMan on 12.30.21 at 9:30 pm

Hey TurnerNation. I feel your pain, really I do. I just left the land of fear and panic, aka Ontario, and I’m living well here in the U.S. Fully vaxed so I feel comfortable moving around. Restaurants are packed, people are friendly and want your business. Is covid a thing down here? Yes. Are people losing their minds over it? No. Wear a mask, don’t wear a mask, your call. Joe’s feeble attempts at social engineering have run head long into a culture that has little time or patience for it. T2 might think he can create a new world order in a vacuum but ultimately it wont fly. Eventually reality, like gravity, will prevail. But keep those theories coming. People should be aware and wary of what our ruling class ponders. And keep your options open. It’s 22C here today and the ocean breeze is doing wonders for my health.

#58 CanadianOne on 12.30.21 at 9:33 pm

You say wokism, but the mills seem to have the backing of the tried and tested old Bernie! How do you justify all that he’s is pointing out?

Right nobody with a straight face would do that…..

Feel the BERN!

https://mobile.twitter.com/berniesanders?lang=en

#59 Faron on 12.30.21 at 9:34 pm

I went out and shoveled the sidewalk in front of four houses in addition to mine plus the nearest corner’s intersection ramps where the sidewalk meets road goo. Tough work later in the day when the snow had been stomped down.

Doing nice things for one’s community pays in ways that cash can’t. Meeting neighbours, exercise, receiving some friendly flirtation, etc.

Got my booster today, now waiting for the side-effects to kick in. Expecting an arse kicking next 24 hours. But, I’ll have antibodies form three vaccines and a bout with Delta. Should be mostly COVID invincible with all the benefits thereof.

#60 Faron on 12.30.21 at 9:38 pm

#99 James on 12.30.21 at 1:05 pm

… ‘selfish coward’? Talk about projection.

Imagine coming to a FREE financial advice blog and calling the host selfish. Wow.

#61 Cowtown Cowboy on 12.30.21 at 9:41 pm

Thought I’d take a look at the performance on a few accounts ytd…
Non-reg: 44.25%
RESP: 25.87%
TFSA1: 30.89%
TFSA2: 34.28%

Thank god as I needed the bump, time to turn it over to the pro’s and aim for a nice steady 8-10%…I’m running out of hair.

#62 Soviet Capitalist on 12.30.21 at 9:47 pm

Thank you, Garth!
I also kept track of your last year’s predictions:
“December 28, 2020: Garth feels equity markets will do well in 2021, the currency depreciation will start to be felt and bond markets will get under pressure. Central banks will keep pushing rates down to keep them at the same level. Covid emergency will morph into a climate change one in order for the politicians to keep their extra powers. In real estate, suburban will keep growing in the first half, while downtown going down, but things will change dramatically in the second part. He also feels there will be a federal election in 2021 as the Liberals try to capitalize on their spending largesse.”

I don’t know of anyone else who nailed it as well as you did.

#63 crowdedelevatorfartz on 12.30.21 at 9:54 pm

@#36 Cici
“Nobody should be eating that in one sitting.”

++++

I can’t remember the last time I ate at McSpew.
Possibly when I was last horribly hungover and didn’t really care if I “lost” what I paid for.

The touch screen “kiosks” that have replaced workers that require a decision…. for endless permutations of…. a….. fricken….. coffee and or fries, etc..

From the bland, tasteless grease, fat and salt posing as cuisine.

To the overpriced cost of having an order tossed at you that you always have to check to make sure its right.

And immediately after you eat…make sure a washroom is nearby for the possible call of nature.

The “new” coffee isn’t bad but the gauntlet of questions isnt worth it.

#64 Faron on 12.30.21 at 9:56 pm

#90 Russ on 12.30.21 at 11:11 am

Russ, I regret to inform you that you have made a typo.

#96 Sail Away on 12.30.21 at 12:28 pm

Well, I do have a bit of trouble with an irritating and uncontrolled jerk radically left of center.

That’s a funny joke. But, you seem to stray right as Russ has noted. Maybe you overcompensate for the dystonic leftward jerk? Might want to get that checked out. In golf it’s called the yips.

#65 kommykim on 12.30.21 at 9:59 pm

RE: #38 JSquared on 12.30.21 at 5:07 pm
Serious question…can someone explain to me why homeowners don’t have to pay tax on gains when they sell?

=======================================

Because that would reduce workforce mobility. No one with $200K in equity gain would want to pay the taxes to move to a new job far away. It wouldn’t be worth it unless the pay increase was ludicrously large.
Besides, most people don’t “win” when they sell their house because they buy again in an inflated market immediately after selling. Usually an upgrade as well..

#66 VladTor on 12.30.21 at 10:36 pm

Garth ….Trump may come back in 2024

***************
This is unlikely. I bet on Ron DeSantis – Florida Governor.

#67 45north on 12.30.21 at 10:43 pm

Biden on the ropes.
It looks reasonable the US president’s political party will be sliced & diced in the mid-term elections next autumn. Biden’s popularity crashed following the messy, tragic exit from Afghanistan and the military deaths at the airport. He is wearing the shame of a war that spanned four presidencies. Plus the Democrats’ wokism has gone beyond what mainstream American can choke down. What it means: huge spending bills backed by significant new taxes are DOA. Trump may come back in 2024, unless he’s in jail.

“the shame of a war that spanned four presidencies”

on September 11, 2001, four commercial airlines were hijacked by al-Qaeda. They flew two of the planes into the World Trade Center in NY City and flew one into the Pentagon. On the fourth plane, the passengers revolted and the plane crashed into a field in Pennsylvannia.

In response, the US invaded Afghanistan.

Colonel Richard Kemp ( British Army ) said Biden’s retreat was the worst foreign policy mistake in modern times.

#68 Russ on 12.30.21 at 10:53 pm

Hi Faron,

It is not a typo if it’s intentional. Your welcome.

It is good that we can express a bit o’ humour from time to time in the dreary steerage section.

After all, we have plenty of left wingnuts, right wingnuts and jane24 with her BS Witworth thread chiming in for the British wingnuts.

Cheers, R

#69 Squire on 12.30.21 at 11:07 pm

2022 prediction or possibly close to 2023
T2 pulls a McGuinty https://en.wikipedia.org/wiki/Dalton_McGuinty and Freeland becomes https://en.wikipedia.org/wiki/Kathleen_Wynne. Why say you ? because the man behind both is https://en.wikipedia.org/wiki/Gerald_Butts
Notice the rolled up sleeves that both McGuinty and T2 like to sport. It’s all image and no substance.
bye bye T2, thanks for the darn mess we will have to clean up. Ontario is still trying to clean it up.

#70 Pandemic Is Over on 12.30.21 at 11:59 pm

If US is overdoing wokism, then I don’t know how to call what’s happening here…

#71 Mrs Fool on 12.31.21 at 12:58 am

A heartwarming story (off topic, of course) of humans and dogs.
https://www.bbc.com/future/article/20210422-the-guards-caring-for-chernobyls-abandoned-dogs

#72 Ponzius Pilatus on 12.31.21 at 1:58 am

#67 45north on 12.30.21 at 10:43 pm
Biden on the ropes.
It looks reasonable the US president’s political party will be sliced & diced in the mid-term elections next autumn. Biden’s popularity crashed following the messy, tragic exit from Afghanistan and the military deaths at the airport. He is wearing the shame of a war that spanned four presidencies. Plus the Democrats’ wokism has gone beyond what mainstream American can choke down. What it means: huge spending bills backed by significant new taxes are DOA. Trump may come back in 2024, unless he’s in jail.

“the shame of a war that spanned four presidencies”

on September 11, 2001, four commercial airlines were hijacked by al-Qaeda. They flew two of the planes into the World Trade Center in NY City and flew one into the Pentagon. On the fourth plane, the passengers revolted and the plane crashed into a field in Pennsylvannia.

In response, the US invaded Afghanistan.

Colonel Richard Kemp ( British Army ) said Biden’s retreat was the worst foreign policy mistake in modern times.
————-
The problem with people like you is you interpret history your way. Just like different religions interpret the Bible to their liking.
And when was the last time you met a Colonel or General who did not like invading countries.
And yes, the withdrawal was long overdue.

#73 expat on 12.31.21 at 2:09 am

2022
Anglo-Saxon world (USSA – union of socialist soviet states of Amerika, Soviet Kanadastan and NUK -not-united queendom) continues to go down to hell, on fast path of self-destruction, leading by insane “progressive” socialist governments.
English Socialism – G. Orwell, 1984
Chaos, social unrest and violence, tsunami of crime, economic failure, hyperinflation
Government of USA will try to start wars against Russia and China to cover its own crimes against humanity.

#74 R on 12.31.21 at 2:25 am

I don’t know what is worse.The Left wing Marxist Wokeism, or the Right wing Trump Fascism. One distroys the economy, the other destroys the democracy. Singapore is not really a democracy, but the people have relative economic freedom. If a T2 type distroys the economy, then no one is really free, talk to Venezuela.

#75 under the radar on 12.31.21 at 4:56 am

A cautionary tale.
Doing a refinancing for a mid 70s retired professional couple hopelessly indebted. 10 credit cards all maxed , 2 mortgages , the second at 15% . Most of their home equity has been eaten by debt. Taking cash advances at 19% on one card to make the minimum on another . They refuse to sell and rent. No matter, once they run up the cards again they will be forced to.

Another couple late 50s sold in Oshawa and moved to a small Ont town ,1500 people. Bought a home paid cash 260k. Both unemployed and after their purchase about 50k left . I told them not to, but to no avail. I know how this ends.

People failed to plan and have failed to live within their means. They have no savings , no income stream, except government , and have for the most part been given temporary reprieves because of the rise in real estate values. I sometimes wonder how many like this are out there?

#76 the Jaguar on 12.31.21 at 8:31 am

Woo wee! The NP is full of gem’s this early morning of New Year’s Eve. If you leanings are progressive, maybe pick up the work G&M instead. Snippets, anyone?:

“Former Republican president Donald Trump’s recent comments touting COVID-19 vaccines as safe and a major achievement of his presidency have roiled extreme anti-vaxxers, which include many of his supporters.
While Trump stressed he is against vaccine mandates, his comments have stoked rare criticism from anti-vaccine activists. Conspiracy theorist and radio host Alex Jones said on his talk show that by touting the vaccine, Trump was either “completely ignorant” or “one of the most evil men who has ever lived.” He said it was time “to move on” from Trump and also threatened to “dish all the dirt” on him. Radio host Wayne Allyn Root said Trump needed an “intervention.” — ( ‘The Donald’. Still inspiring shock and awe after all these years, lol!) +++

“WASHINGTON Statues of Gen. Robert E. Lee and other Confederate leaders that were removed during unrest in the U.S. have been handed over to a black history museum to decide their fate.
The city’s black history museum will now decide what to do with the “rogue” statues along with The Valentine, a local history museum.
The Southern states are home to about 700 memorials to Confederates who fought in the Civil War to preserve the institution of slavery. Once regarded as historical artifacts, they came under attack following a wave of police shootings of African-americans.”
— Maybe we should send them John A. MacDonald and the “rogue”Canadian ones, too? Seems a bit reminiscient of ‘Be careful what you wish for, for you may get it”. +++

Howard Levitt’s prediction for 2022 on fallout of programs like CERB:

“You might think that the cessation of such programs would force such people back to the labour market. You would be wrong. When workers are permitted to become lazy for a sustained period, it becomes almost impossible to motivate them to re-engage, beyond short spurts of episodic work.
Another reality is that, with people working from home for two years, the former social bonds created by daily workplace interactions have largely vanished. Employers’ loyalty to employees and vice versa have been significantly extinguished. .”
— This is exactly what Kevin Warsh called attention to at the beginning of the pandemic. True dat. +++

And finally defining the success and popularity of Francois Le Gault, Premier of Quebec, and my personal favourite Canadian politician:

“He communicates in clear and simple terms. He is authentic. He projects a fatherly figure. He admits some mistakes. Clearly in charge, he shares Quebecers’ roller coaster experience of the pandemic, with its fears, its hopes, and its frustrations.” — Ain’t it the truth.

#77 crowdedelevatorfartz on 12.31.21 at 8:35 am

@#59 Faron
“receiving some friendly flirtation, etc.”

+++

Did he give you his number?

#78 Wrk.dover on 12.31.21 at 8:37 am

#35 We turned our RRSP into RRIF at 56 and retired early on 12.30.21 at 4:55 pm
We are completely debt free, no mortgage debt and after all our taxes, bills, living costs still have $47,000 a year that we will have to reinvest in some other investments. We will be getting our CPP early that will be another $16,000 a year in 2025 and our OAS will be another $18,000 a year in 2030.

Bad idea. – Garth
________________________________

The higher your standards, the less likely a good outcome. With paid for everything including several vehicles plus internet and tv expenses, we otherwise live like Anne Frank on 18,000/yr.

Quite an accomplishment when you consider a weekly $20 visit to Wendy’s can add another 1000/yr.

The other 18,000/yr we burn through, is ample for optional lifestyle expenses/travel, while country living.

That leaves the last 12,000/yr going into TSFA’s for future senior care.

Not depleting funds, decades into being retired on one DBP equivalent to a million dollar RRSP, two OAS and one of the CPP’s @ $100/mo. But, too rich for GIS and GST rebates. $48,000/yr net, and loving every minute.

Aimed low, retired very early, successfully.

Pity the fool that scrolls past this accurate comment.

#79 crowdedelevatorfartz on 12.31.21 at 8:54 am

@#72 Praetorian Potentate Ponzie

“And yes, the withdrawal was long overdue.”

+++

Ironically enough.
Trump scheduled the withdrawal.

Biden followed through.

The rapid withdrawal from Afghanistan should have surprised no one.

How does one pull out “with honor” while saving the lives of your troops at the same time?

Vietnam in ’74 as a case in point.
A hopelessly corrupt govt backed by the US collapses as soon as the American forces start leaving.
It’s “leaders scurrying like the rats” as they also take as much as possible ( One Afghani warlord is said to have commandeered two helicopters to flee. One for him and his family and one for the millions in cash, bullion, jewelry, art, etc..)

Pillage comes to mind.

There is no nice way to leave. Quick or slow.
People die and the blame is pointed every where
As the final suicide bombing at the Kabul airport that took dozens of US and civilian lives proved.

Would a withdrawl under Cadet Bonespurs Trump have looked any different? (Bluster and bravado Trump was excused from military service in Vietnam because of “bonespurs” in his feet. Even though he spent most of his teens as a cadet in a military college… apparently he was so difficult to deal with as a child his father sent him to a military school to hopefully whip some respect in to him. Epic fail.).
A Trump withdrawl.
Possibly more American lives lost in a fruitless gesture to appease his oversized ego.
Either way.
Now the Talibs “win” a bankrupt country on the brink of mass starvation, disease and ruin.
Totally destroyed with the Four Horsemen wandering the land.

And after 30 years of bodybags….no more US Troops dying.

#80 Steven Rowlandson on 12.31.21 at 8:56 am

Canada’s quest for responsible government in the 19th century has proven to be in vain.

#81 crowdedelevatorfartz on 12.31.21 at 9:02 am

@#70 ….over

“If US is overdoing wokism, then I don’t know how to call what’s happening here…”

+++

Liberalista Butzism .

#82 Dharma Bum on 12.31.21 at 9:10 am

#75 Under the radar

I sometimes wonder how many like this are out there?
——————————————————————————————————-

More than you would care to imagine.

It will prove to be the leading cause of death in the decade to come.

These folks are, unfortunately, at the end of their ropes. Their chance for longevity, notwithstanding their physical health, is severely compromised by their horrid financial health (that is to say, lack thereof).

The desperate strategy of robbing Peter to pay Paul will inevitably run out of steam as their waning credit fizzles out and the capital value of their one last asset erodes to zero as they leverage it to the max.

Who’s gonna pay for their penultimate resting place?

You and me.

And, come to think of it, I ain’t seen you payin’ for much lately, buddy boy.

#83 Brett in Calgary on 12.31.21 at 9:24 am

Garth you are correct about the end of COVID, Omicron is its swan song. Over 50 mutations in the spike protein leading to a MUCH milder and contagious virus. This is the evolutionary jump we have been waiting for.

It will also make vaccine mandates look foolish because as is evidenced by the Calgary Flames, Omicron just evades prior immunity. Good thing (see South Africa) it doesn’t seem to matter.

On a different note have you read Ray Dalio’s ‘The Changing World Order’? I am about half-way through, good book, but also terrifying.

#84 earthboundmisfit on 12.31.21 at 10:22 am

#73 expat

My friend, you need to loosen off that tinfoil hat and upsize your tighty whities.

#85 Common Sense on 12.31.21 at 10:44 am

#5 Shawn

This is not how an RSP meltdown works. You borrow to invest, grow, and profit. The RSP withdrawals – taxable income – is offset by investment expenses – interest and fees.

The big challenges are:

(1) Do you meltdown the RSP after you retire? You’ll have no employment income so you can use some of your RSP as retirement income and some to pay interest. You need to melt down less of the RSP as a result and need a smaller investment loan. However it’s harder to get a loan when retired.

Or (2) Do you melt down the RSP in the final decade before retirement? Getting a loan is easier when working, but you need a much bigger loan to melt down the RSP if your goal is to have no or minimal RSP into retirement.

Everyone’s situation will be different and the right answer from the above, or a combination of the two, will be unique. It may not even be worth the trouble depending on the RSP size and other expected income sources. The math has to be done on it to see if the risk and effort are worth it.

Simple example: melt down a $1MM RSP over 10 years with 5% interest rates. You borrow $2MM and pay $100k interest only per year from the RSP. After 10 years you have a small RSP left because there was growth in the RSP during the decade, you have $4MM in the non-reg account, owe $2MM on the loan, and have a manageable RSP going into retirement.

Risks – all manageable – are interest rate risk, market risk, demand loan risk, added taxes from the non-reg account gains/income, and the tax liability to liquidate a portion of your non-reg to pay the loan.

Do nothing, and after a decade your $1MM RSP has doubled to $2MM, but it’s in a tax bomb of an RSP for when you retire.

The math needed is to figure out the larger tax liability in the above two scenarios or a hybrid of the two – partial meltdown. Interest rate and return assumptions are critical too.

#86 Bart Carter on 12.31.21 at 10:50 am

#22 Drinking. Want a Mill to shovel snow? Give him a house, that was my solution. If you give your kid a multimillion dollar shack they’ll act like proud homeowners just to piss off the poor. Why not give it away early? You can’t take it with you. Making millions has been like shooting fish in a barrel for my generation. It isn’t that easy anymore.

Why make your kid sweat? At our age who’s still in Canada? Seriously, if you don’t have an extra few millions to give, brother you screwed up. Maybe shoveling snow could a side hustle for you and the old lady, to pay for the outrageous heating bill.

#87 Sail Away on 12.31.21 at 10:52 am

#78 Wrk.dover on 12.31.21 at 8:37 am

With paid for everything including several vehicles plus internet and tv expenses, we otherwise live like Anne Frank on 18,000/yr.

Quite an accomplishment when you consider a weekly $20 visit to Wendy’s can add another 1000/yr.

———-

Ah, thrift. Did you hear the Scots of Canada protested retiring the penny?

Another…

A guy walks into a bar and orders a beer. “My girlfriend keeps complaining how cheap I am, so today out of the blue I surprised her by taking her out for drinks and cookies and pie,” he tells the bartender. “Was she surprised?” the bartender asks. “I definitely think so,” the guy replies. “Turns out it was the first time she’s given blood.”

#88 Ponzius Pilatus on 12.31.21 at 10:55 am

#79 CEF
You got that one right.

#89 Prince Polo on 12.31.21 at 10:56 am

Getting back to what you should do with your blog. How about a bi-weekly/monthly write-up from some unlucky blog doggie? All unchosen submissions would be discarded at the end of each quarter.

Also, next year is when I plan to have my mid-life crisis and FIRE. Therefore, I should have lots of free time on my hands to moderate comments and make lattes/cappuccinos for your east coast office, pick-up your dry-cleaning, wash your tugboat, etc.

On the other hand, you could incorporate an upvote/downvote method a la Reddit and let the steerage section mostly moderate the wheat from the chaff.

Happy New Year to the Turner Investments crew!

#90 crowdedelevatorfartz on 12.31.21 at 11:02 am

Nothing like a little public shaming to keep the anti vaxx’ers in China in line.

https://nationalpost.com/news/world/china-punishes-people-trying-to-flee-covid-controls-in-xian

Western conspiracy advocates be warned.

The “shame parade” is coming for you….

:)

#91 Bob Dog on 12.31.21 at 11:12 am

For the millions of young Canadians out there that struggle paycheque to paycheque. Who do not benefit from hyper inflated housing. Who do not benefit from a stock market bubble fuled by obscene money printing. Who see no hope of raising a family..

Guillotines are the final solution to the widening inequality in this country.

You are now banned. Go whine about that. – Garth

#92 crowdedelevatorfartz on 12.31.21 at 11:23 am

Vancouver cancels its “homeless count” for the second year in a row. “because of Covid”….

Ri-i-i-i-ght.

https://vancouver.citynews.ca/2021/12/30/vancouver-crab-park-homeless-encampment/

It wouldn’t be due to the appalling living conditions in the City run shelters would it?

Reporters would like to ask invisible WOKE Mayor Kennedy Stewart but he’s ( as usual) unavailable for comment.

Mayor Kennedy.
A political opportunist if there ever was one.
Former NDP MP for Burnaby South who offered his safe Burnaby NDP seat WHILE he ran for Mayor of Vancouver.
To none other than the Leader of the Federal NDP Jagmeet Singh ( another politician that excels at invisibility).

One wonders how brutal of a drubbing Vancouver’s Mayor will take from the citizens of Vancouver after raising their property taxes 5.7 % in 2022.

But don’t worry dear WOKESTERS .
You can be sure if invisible Mayor Kennedy Stewart gets booted from Vancouver City Hall this coming Fall…. a plumb federal NDP appointment awaits.

https://vancouver.ca/your-government/2022-election.aspx

Since Jaggy Singh knows…
You have to look after your friends no matter what the cost..

#93 Dr V on 12.31.21 at 11:36 am

5 Shawn

“When you borrow money to invest at a loss……the idea
that an RSP should be melted down is simply silly.”

Good morning Shawn. The meltdown is not a one-size fits all strategy.

https://ca.rbcwealthmanagement.com/documents/1874925/1874941/The+RRSP-RRIF+Meltdown+Strategy.pdf/b9bd0de1-2db9-488a-afe5-6a35607a8adb

Also, I have not seen a recommendation to borrow money with the intention of losing on the investment.
(Now THAT would be silly)

Given a $200k HELOC at 4% of interest payments only,
invested tax-efficiently, and a time frame of sufficient duration to increase probability of a cap gain, allows a
yearly withdrawal of $8k net-tax zero. This probably works best with large RRSPs, so for that typical individual, an even larger HELOC may be an option.

Disclosure – I am not employing this strategy either.

#94 Dogman01 on 12.31.21 at 11:43 am

Afghanistan

Every soldier I have spoken to has commented on the culture in Afghanistan. In one word Corrupt.

Culture is the number one determinate of a successful vs a “Shithole” country.

Unfortunately the West did not recognize this in Afghanistan and we stayed way too long. The Taliban were always the only cultural force that had the discipline and relative “morality” to run their system.

https://www.youtube.com/watch?v=imnpuJ0DClc

https://www.youtube.com/watch?v=fwbjbK1Mtms

Peace Order and Good Government is a cultural value tradition. The expectation of it, and the value that anything else is unacceptable is a pre-requisite to have Peace Order and Good Government.
The West took hundreds of years to develop the culture, the systems and traditions to achieve what we have. Our “System” needs to be respected for what it continues to accomplish. Getting millions of “hairless apes” to live together well is no mean feat.

“0.0011428571428571‬%, That is the percentage of the Canadian population who went to war in Afghanistan. 10 Years, 158 dead, .001% of the population impacted. Some went to war, the Canadian public went to the mall…”

#95 An enlightened vaccined peoplekind on 12.31.21 at 12:07 pm

There are frequent delusions being peddled of an end to the pandemic and a return to normalcy as the lies continue to unravel in the face of a brutal reality and the endless collapsing narratives. For those captives enthralled with this new development hope springs forth to seize attention and satiate their desperate need for optimism. Survival in times of crisis does not depend on optimism or hope, although the latter can be a useful psychological motivator in desperately severe circumstances. Survival requires an acknowledgment of truth and reality, so that reasonable decisions can be made based on accurate intelligence. The acquisition of accurate intelligence is a laborious process these days when censorship and propaganda are proffered hourly as authoritative “news”.

This process begins with the willingness to consciously open one’s mind and dispense with reinforced biases, question long held beliefs, extricate one’s digital presence from algorithmic echo chambers, refuse to freeze when shocked by the horror of new information which often leads to a retreat to the safety and security of old or popular beliefs wrapped in warm delusions. Once that retreat is rejected, one must question their beliefs a third and fourth time and recognize errors where they exist until those old beliefs no longer interfere with processing new information. It’s a lonely process, that requires accepting a devastating loneliness that inevitably follows. Call it a cognitive behavioral procedure of un-washing one’s brain that is so constantly bombarded with lies and propaganda it often cannot distinguish the line between healthy skepticism and bug house paranoia.

What information does a lonely healthy skeptic glean from an impassioned retrospective analysis of the past two years?

The lies are everywhere. They are intentional. Your brain and emotions are tools for management and manipulation. Your behavior is to be monitored and conditioned. The hearts and minds of millions will soon recognize the evil social engineers are all around them, in the halls of every institution public or private. They seek to divide and control totally. This is healthy skepticism based on facts and evidence. This is not bug house paranoia.

Politically we have witnessed nothing short of the end of liberal democracy.

#96 Pro-vax, yes minister on 12.31.21 at 12:11 pm

DELETED

#97 crowdedelevatorfartz on 12.31.21 at 12:18 pm

@#91 Banned Bob

“Guillotines are the final solution to the widening inequality in this country.”

++++

On the wrong side of the “equality” equation Bob?

Time to look in the mirror and ask yourself what the real problem is?

Silly me.
What was I thinking.
It’s far easier to blame everyone else.
Go get another $1000 tattoo and text the internet on your newest $1500 leased phone…
It may not fix anything…. but you’ll feel better and have an awesome new tat.

#98 The West on 12.31.21 at 12:33 pm

#80 Steven Rowlandson

“Canada’s quest for responsible government in the 19th century has proven to be in vain.”

Delusional.

#99 Dr V on 12.31.21 at 12:35 pm

85 Common sense

Thank you for that excellent explanation and example.

Disclosure – I do not have $1M in my RRSP. My acct said that would be silly (in my situation).

#100 Warren-the-lagging_indicator on 12.31.21 at 12:46 pm

I agree with most of this except that the reported Vax rates are no where near what they are saying, Trunq is toast for 2024… no chance. 2022 in retrospect will be known as the year of the beginning of the great housing collapse here in Canada. The Government, media, medical institutions etc has lost the trust of the people and thus will have to rebuild it from scratch. A long winding road ahead.

#101 Ponzius Pilatus on 12.31.21 at 12:59 pm

#90 crowdedelevatorfartz on 12.31.21 at 11:02 am
Nothing like a little public shaming to keep the anti vaxx’ers in China in line.

https://nationalpost.com/news/world/china-punishes-people-trying-to-flee-covid-controls-in-xian

Western conspiracy advocates be warned.

The “shame parade” is coming for you….

——————————
That’s why I read Der Spiegel.
Always ahead of the crowd.

#94 Ponzius Pilatus on 12.30.21 at 11:46 am
#92
And be glad you don’t live in China.
“parade of shame” for COVID rule breakers.
https://www.spiegel.de/panorama/coronavirus-china-demuetigt-oeffentlich-corona-regelbrecher-in-jiangxi-a-7669f498-86bc-4975-ab8c-256d701b97b0

#102 SoggyShorts on 12.31.21 at 1:00 pm

#83 Brett in Calgary on 12.31.21 at 9:24 am
It will also make vaccine mandates look foolish because as is evidenced by the Calgary Flames, Omicron just evades prior immunity.

********************
That’s your takeaway?
17 double vaxxed Flames have caught omicron but the are ALL asymptomatic. Not even a sniffle.
My takeaway is that the vaccine is great, and the mandates make sense, even in hindsight.

#103 Barb on 12.31.21 at 1:12 pm

#56
“Everyone …..Back to work ( unless you’re a unionized teacher in BC).”
———————————–

Children of essential workers and special needs kids go back to school next week. Others, nope!

Grandson is needy. He needs an education.
Who knew?

BC Teachers fear shadows they themselves make.

#104 the Jaguar on 12.31.21 at 1:19 pm

Holy moly. New Year’s Eve really brings out the deep meanderings, don’t it?

@#95 An enlightened vaccined peoplekind on 12.31.21 at 12:07 pm-

Seems like you went a bit too far when you got your edges smoothed off, pal. Or are you just channeling Hunter S. Thompson? Pop that champagne cork and look for the diamonds among the rubble. They are there.

@#94 Dogman01 on 12.31.21 at 11:43 am
There’s a kernel of truth in what you say. Explains why some Central and South American countries can’t seem to exit their state of ongoing corruption and rescue their nations. Here’s a book tip for since it’s New Years Eve: It’s not available until April, but you can pre-order on Amazon.
The War on the West – April 26, 2022- by Douglas Murray (Author)

Happy New Year to all the blog doggies, and remember if you are truly Scottish you will pay off all your debts before midnight.

#105 dragonfly58 on 12.31.21 at 1:27 pm

My outlook for Canada’s future is not as bright as some on here, but not so dark as many predict.
Real estate will gradually come to resemble Japan. The economy in general will inch closer to Venezuela each year from this point onward. It’s already been doing this for a couple of decades now. A few big winners, but the majority sliding downward a bit each year. You almost don’t notice it , year to year. But decade to decade the trend is clear. And a slowly growing pool of truly dirt poor. Like IHCTD says , I can’t even imagine what it would take to fix Canada’s overall situation.

#106 Balmuto on 12.31.21 at 1:31 pm

2022:
– more inflation
– more labour shortages
– more supply chain issues
– central banks hike aggressively (no choice in the face of rampant inflation)
– pandemic continues all year but the worst is over after March 2022
– March/April 2022 is also the top in Canadian housing as cheap money comes to an end
– bad year for equities for the same reason

HNY

#107 Sail Away on 12.31.21 at 1:31 pm

#99 Dr V on 12.31.21 at 12:35 pm
85 Common sense

Thank you for that excellent explanation and example.

Disclosure – I do not have $1M in my RRSP. My acct said that would be silly (in my situation).

———

Yes, thanks CS, that strategy does make sense. If we were to retire in Canada that may be the way to go but if retiring in the US, the RRSP distribution yields a big tax credit per tax treaty, so I’ll take some time this beautiful NYE to model some scenarios.

#108 Polecat on 12.31.21 at 1:47 pm

#94 Dogman01

Nailed it, took me about a month into my tour in 2008 to figure it out. My terp said so and as we interacted with locals it was obvious, the place was lost. Just glad my team got out in one piece.

Happy new year all.

#109 Satori on 12.31.21 at 1:55 pm

#75 under the radar on 12.31.21 at 4:56 am

Wonder how many people out there are like this? 53% of Canadians are $200 away from not being able to make ends meet. Approx. 3/4 of Canadians are in deep debt.

https://www.bnnbloomberg.ca/53-of-canadians-within-200-a-month-of-insolvency-mnp-1.1587379

#110 Shawn Allen on 12.31.21 at 2:05 pm

Stop the RRSP Meltdown Nonsense

#85 Common Sense on 12.31.21 at 10:44 am
#5 Shawn

Simple example: melt down a $1MM RSP over 10 years with 5% interest rates. You borrow $2MM and pay $100k interest only per year from the RSP. After 10 years you have a small RSP left because there was growth in the RSP during the decade, you have $4MM in the non-reg account, owe $2MM on the loan, and have a manageable RSP going into retirement.

Do nothing, and after a decade your $1MM RSP has doubled to $2MM, but it’s in a tax bomb of an RSP for when you retire.

*****************
Yeah borrow $2 million? Are you kidding?

I think I will keep to my own counsel. I prefer to keep seeing my RRSP melt up as opposed to down. To each his own.

You would risk disaster in order to avoid some income tax? Have at it. You think your wife is going to agree to borrow $2 million? Good luck with that.

#111 Shawn Allen on 12.31.21 at 2:22 pm

RRSP Meltdown stupidity

“Simple example: melt down a $1MM RSP over 10 years with 5% interest rates. You borrow $2MM and pay $100k interest only per year from the RSP.”

****************************
The stupidity of this strategy is revealed when it appears to work better as the interest paid on borrowing increases. At 2% interest rate there is only $40,000 to deduct against tax. 5% interest on the loan is better because you get to deduct $100,000? How dumb is that?

The example relies on borrowed money invested to make more than the 5% interest. You won’t find that without taking risks. Even if it works out you will have already died of a heart attack the first time the market drops 15% – or your wife will have killed you.

People, keep your RRSPs growing. Use it as intended.

And if you DID want to borrow to invest you can do it without touching your RRSP.

Having built up a 1 million RSP it would be insane to risk that by borrowing $2 million and investing it what would have to be something risky.

If the biggest risk is running out of money, you have increased your risk. Debt always increases risk.

#112 crowdedelevatorfartz on 12.31.21 at 2:25 pm

@#103 Barb
“Grandson is needy. He needs an education.
Who knew?”

++++
Never mind the 2 weeks off at Christmas.
The two weeks off for Spring Break.
The two months off in summer.
The 12 Stat holidays off…

It’s a whole new year of Pro D days!
Woooo Hoooo!
Par-Tay.

#113 tc-contra on 12.31.21 at 2:34 pm

Fresh highs. Lots of them.

In precious metals, ‘yes’. In the general markets, very doubtful.

Bloomberg notes:

“Mark Zuckerberg sold Meta Platforms Inc. stock almost every weekday of this year. The founders of Google began to unload shares in May, which is also when two of the three Airbnb Inc. co-founders started diversifying their stakes. The transactions are part of a surge of selling by the very richest Americans.”

Record-breaking insider selling is signalling the top is in (at least in tech). A near repeat of dot.com seems to be in the cards for the sector.

#114 Legault is on 12.31.21 at 2:50 pm

An I’m.becile cre-tin corrupt I’diot mo-ron amoeba brain who should spend his life in jail and in solitary confinement

#115 Doug on 12.31.21 at 3:01 pm

Hey the couple who turned their RRSP into a RRIF and retired early, well, it really works because my cousin since the early 80’s stuffed his RRSP 60%, and non-registered 40% to the max and with high interest rates in the average 8.76% range for many years in 39 years ended up with $1,610,000 in total.He retired at 58.5 and gets now since 2009 from a fixed 30 year term certain annuity with a 6.875% annual payout, $110,000 a year. He stuffs his TFSA to the max has $96,000 in there now.

By the way, it is tax advantaged too because only the interest portion is taxable with his 40%, $640,000 non-registered annuity and the RRSP portion is flat, fixed payout and does not increase alot a year like a RRIF mandatory annual payouts. Retire early with your financial resources, especially if you have a big portion, 40% or more in your RRSP. This is the best way to tax smooth out for many decades.

#116 I don’t know on 12.31.21 at 3:12 pm

tc-contra on 12.31.21 at 2:34

Do you remember pets.com? Have a membership? Bought anything from them?

Me neither.

Have you heard of Netflix? Facebook? Amazon? Apple? Used any of those products? I have, as have billions of other people. Billions.

There is a reason why tech has done well. There are no resemblances to the dot com era whatsoever.

#117 JSS on 12.31.21 at 3:18 pm

#111 Shawn Allen.

Agreed. Too risky. Use rrsp for rrsp

#118 Upenuff on 12.31.21 at 3:23 pm

crowdedelevatorfartz on 12.31.21 at 11:23 am

Vancouver cancels its “homeless count” for the second year in a row. “because of Covid”….
____________________________________________

Just drove through Canada’s poorest Postal Code Area (Vcrs- Main and Hastings) Tents set up on all the sidewalks for blocks…. 100s of homeless just wondering about in the cold…(extremely sad to see that this is part of Canada and not some crazy Holywood movie…) Even the rats are now scared to hang out with these people down there… So, so sad, each one of them belonging to a family somewhere, somehow, and yet, they are lost in doom and gloom, only one step from hell….. almost too hard to put into words what you see when you walk or drive through that area… the mentally ill and the drug addicted. Combine make for a horrendous cocktail.
Want to win a Noble Peace Prize? Come up with a solution that actually works as the present system of throwing money into those blocks has failed tremendously….

#119 Jessica on 12.31.21 at 3:26 pm

Satori, good pointing out this. What the Liberal, Trudeau, progressive, socialist free handouts from CERB to $250 a month more child welfare payments and many more free government cheese, handouts did not help them.

Oh, I forgot inflation now 5% a year really 9% a year from higher carbon taxes, fees, taxes, money printing, federal deficits billions to trillions more in debt etc. from team Trudeau, Freeland, Morneau Liberals. The more they do this the more poor you will get Liberal, NDP, socialist, progressive voters. Eat, enjoy, repeat your lifelong poverty.

#120 Sail Away on 12.31.21 at 3:29 pm

@Shawn, the strategy works just fine to melt down an RRSP. No need to insult CS just because you haven’t grasped that.

There is no need for additional risk, either. The RRSP is already invested in something; just invest the borrowed $ in the same.

It works.

#121 Shawn on 12.31.21 at 3:30 pm

Risk

If you lose $100 k in your rrsp that’s really only say $60k after tax.

If you lose $100k of your own money in a taxable account that’s problem $75k after tax given lower tax rates on cap gains and dividends.

If you lose $100k or more of borrowed money especially past age 55 you will be extremely stressed most likely. Not only your money is gone but the full $100k debt remains

#122 Sail Away on 12.31.21 at 3:36 pm

…and yes, my wife would definitely have no issue with me borrowing $2M. The conversation would be something like:

Me: ‘Dear, I’m going to borrow $2M to invest.’
Mrs: ‘Uh huh. Have you seen the garlic press? I’m sure it was in here.’

#123 Sail Away on 12.31.21 at 3:39 pm

#121 Shawn on 12.31.21 at 3:30 pm
Risk

If you lose $100 k in your rrsp that’s really only say $60k after tax.

If you lose $100k of your own money in a taxable account that’s problem $75k after tax given lower tax rates on cap gains and dividends.

If you lose $100k or more of borrowed money especially past age 55 you will be extremely stressed most likely. Not only your money is gone but the full $100k debt remains

———

So melt it down with GICs. The GIC rate will always be near loan rate.

Still works.

#124 tc-contra on 12.31.21 at 4:00 pm

#116 I don’t know on 12.31.21 at 3:12 pm

tc-contra on 12.31.21 at 2:34
———————————————
Do you remember pets.com? Have a membership? Bought anything from them?

Me neither.

Have you heard of Netflix? Facebook? Amazon? Apple? Used any of those products? I have, as have billions of other people. Billions.

There is a reason why tech has done well. There are no resemblances to the dot com era whatsoever.
t
—————————————————————–

Speaking of Amazon (a great company, no doubt), it lose over 95% of its value between 2000 and 2002 – even as it had improving fundamentals!
Lesson? Even ‘great companies’ can become overvalued and suffer big losses in a bear market. The billionaires have been selling hand over fist because they recognize this fact. Do you?

#125 DON on 12.31.21 at 4:40 pm

#116 I don’t know on 12.31.21 at 3:12 pm
tc-contra on 12.31.21 at 2:34

Do you remember pets.com? Have a membership? Bought anything from them?

Me neither.

Have you heard of Netflix? Facebook? Amazon? Apple? Used any of those products? I have, as have billions of other people. Billions.

There is a reason why tech has done well. There are no resemblances to the dot com era whatsoever.

************

Resembles the exuberance. Some ideas are just not ready for mass consumption at the time they are first introduced.

Apple and Microsoft produce stuff.

Netflix is not that great…and I deleted my facebook account 11 years ago.

Amazon serves a purpose when I can’t find a product from a local business. If I want quality I am better off buying from retirees at garage sales.

#126 DON on 12.31.21 at 4:48 pm

#109 Satori on 12.31.21 at 1:55 pm
#75 under the radar on 12.31.21 at 4:56 am

Wonder how many people out there are like this? 53% of Canadians are $200 away from not being able to make ends meet. Approx. 3/4 of Canadians are in deep debt.

https://www.bnnbloomberg.ca/53-of-canadians-within-200-a-month-of-insolvency-mnp-1.1587379

***********
This was in April…before all the talk of inflation.

I think this is sn important take.

“Those taking on more debt are becoming increasingly vulnerable to interest rate increases in the future. They might find that their debt becomes unaffordable when that happens,” Bazian wrote.

Higher rates should be a real concern to those who borrow and naively think rates won’t head higher once the economy warrants it. In fact, I find it outrageous that six in ten respondents said that the current low-rate environment makes it a good time to buy things they might not otherwise be able to afford.

We need to stop spending if we can’t afford it – now.”

#127 Bogled on 12.31.21 at 5:29 pm

Super Nova! Best wishes and happy new year all. Thank you Garth.

#128 Drinking on 01.01.22 at 7:15 pm

#86 Bart Carter

lol, you must be a mill!! Get a life and shovel some snow!